SANTOVA LIMITED - Strategic Acquisition and Renewal of Cautionary

Strategic Acquisition and Renewal of Cautionary
SANTOVA LIMITED
(Registration Number: 1998/018118/06)
("Santova")
Share Code: SNV
ISIN: ZAE000159711
STRATEGIC ACQUISITION OF ASM LOGISTICS (S) PTE. LIMITED, SINGAPORE AND
RENEWAL OF CAUTIONARY
INTRODUCTION
The Board of Santova is pleased to announce that Santova has acquired 100% of the share
capital in ASM Logistics (S) Pte. Limited (“ASM Logistics”), a company based in Singapore
from the founding shareholder who is an independent third party.
RATIONALE
ASM Logistics is a non-asset-based supply chain logistic company, incorporated in Singapore
in 2009, with operational activities in Singapore, Hong Kong, Indonesia, Malaysia, Thailand
and Vietnam. The acquisition of ASM Logistics allows Santova to further entrench itself in Asia,
expand its global presence and to have better control of the supply chain end-to-end. The
strategic location of Singapore provides Santova with a platform to share in the growth of South
East Asia, a fast-growing economic region.
CONSIDERATION AND CATEGORISATION
The total maximum purchase consideration for ASM Logistics is less than 5% of the
company’s market capitalisation and is thus neither a category 1 nor a category 2 transaction
in terms of the JSE Listings Requirements. The board, however, considers it prudent to inform
shareholders of this strategic acquisition for Santova.
The effective date of the acquisition will be 2 August 2018, all conditions precedent have been
fulfilled and the purchase price will be settled fully in cash from existing cash resources.
The acquisition is expected to have a positive impact on the Group’s results, however the full
effects of this will only be felt in future financial periods and will not materially affect the Group’s
results for the 2019 financial year end.
CAUTIONARY ANNOUCEMENT
Shareholders are advised that whilst this transaction formed a part of the cautionary
announcement issued on SENS dated 16 July 2018, negotiations in respect of the primary
transaction referred to in the cautionary announcement are ongoing. Shareholders are
accordingly advised to continue to exercise caution when dealing in their shares until a further
announcement in this regard is made.
2 August 2018
Durban
Sponsor and Corporate Advisor
River Group
Date: 02/08/2018 03:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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